Monthly Archive: September 2018

An Amsterdam-based bank, ING Group NV, became involved in a U.S. Securities and Exchange Commission (SEC) investigation for having shortcomings in the execution of preventative measures against financial crimes. This includes requirements for client on-boarding, anti-money laundering (AML) regulations, and… Read more >

The SEC charged big pharma company, Sanofi, for violating the FCPA’s books and records and internal accounting controls provisions, and allegedly paying bribes across the Middle East and in Kazakhstan to gain more business opportunities. Sanofi had their sales people… Read more >

Real estate is often used to aid money launderers in the Integration stage of a money laundering scheme. Criminals are able to invest their illicit gains into property, which provides stability in prices that usually appreciate over time and functionality… Read more >

At the Legal System and Cryptocurrency Crime seminar held in Bangkok last month, officials of Thailand’s Anti-Money Laundering Office (AMLO) revealed their plans to create a cryptocurrency wallet that will have the ability to seize digital currencies from criminals accused… Read more >

Robert P. Hoopes, former Lower Southampton Director of Public Safety, has pleaded guilty to one count of conspiracy to commit money laundering and four counts of Hobbs Act extortion. Hoopes is accused of accepting a bribe and extorting business owners… Read more >

In an attempt to protect Britain’s overseas territories from money laundering, the UK has introduced the Sanctions and Anti-Money Laundering Act (SAMLA) which requires the territories to establish public registries of beneficial corporate ownership by December 31, 2020. SAMLA was… Read more >

Guo Wengui, a Chinese business tycoon, has had his bank accounts frozen by Chinese authorities as part of an ongoing money laundering investigation involving his daughter and son. Guo, who is currently seeking asylum in the US, fled from China… Read more >

Raymond Odigie Uadiale, a former employee at Microsoft, was sentenced to 18 months in prison and three years of supervised release after pleading guilty to conspiracy to commit money laundering in connection to Reveton, a type of ransomware. A factual… Read more >

Zanzibar, which is known for being a haven for money launderers, has introduced a new anti-money laundering (AML) law that requires anyone moving more than USD $10,000 out of the country to first state their intentions with the Tanzanian Revenue… Read more >

David Owen, a resident of Largo, Florida, has been sentenced to 10 years in prison for conspiring to commit mail fraud, extortion, money laundering, and various other fraud schemes. In addition to his sentence, Owen must pay $697,500 in restitution to… Read more >